TMI BlogPrevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2019.X X X X Extracts X X X X X X X X Extracts X X X X ..... etters sub-section (1), read with clauses (i), (j), (jj), (jjj) and (k) of sub-section (2) of section 73 , the words, figure and letters section 73 read with section 11A and section 12AA shall be substituted. 3. In the principal rules , in rule 2, in sub-rule (1) ,- (i) the clauses (aa), (aaa), (aab), (aae), (aaf), (ca), (cb), (cc), (cd), (faa) and clause (fb) shall be re-numbered as clauses (ac), (aa), (ab), (ca), (i), (cc), (cd), (ce), (cf), (fb) and clause (fc) respectively; (ii) after clause (bb), the following clauses shall be inserted, namely: (bba) digitial KYC means the capturing live photo of the client and officially valid document or the proof of possession of Aadhaar, where offline verification cannot be carried out, along with the latitude and longitude of the location where such live photo is being taken by an authorised officer of the reporting entity as per the provisions contained in the Act; (bc) Digital Signature shall have the same meaning as assigned to it in clause (p) of sub-section (1) of section (2) of the Information Technology Act, 2000 (21 of 2000); ; (iii ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and financial status of the client, or the equivalent e-documents thereof as may be required by the reporting entity: (ii) in sub-rule (5),- (a) after the words, brackets and figure contained in sub-rule (4) , the words, and as an alternative thereto , shall be inserted; (b) in clause (iv), for the words, brackets and figures through the production of officially valid documents, as referred to in sub-rule (4) and Permanent Account Number or Form No.60, as the case may be, , the words, brackets and figure as per the provisions of sub-rule (4) shall be substituted; (c) for clause (v), the following clause shall be substituted, namely:- (v) the foreign remittance shall not be allowed to be credited into the small account unless the identity of the client is fully established as per provision of sub-rule (4): ; (iii) in sub-rule (6),- (a) after the words following documents , the words or the equivalent e-documents thereof , shall be inserted; (b) in clause (iv), after the word behalf; , the word and , shall be inserted; (c) for clause (v), the following cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cheme notified under section 7 of the Aadhaar (Targeted Delivery of Financial and Other subsidies, Benefits and Services) Act, 2016 (18 of 2016); ; (viii) for sub-rule (15), the following sub-rule shall be substituted, namely:- (15) Where the client has submitted- (a) his Aadhaar number under clause (a) of sub-rule (4) to the banking company or a reporting entity notified under first proviso to sub-section (1) of section 11A, such banking company or reporting entity shall carry out authentication of the client's Aadhaar number using e-KYC authentication facility provided by the Unique Identification Authority of India; (b) proof of possession of Aadhaar under clause (aa) of sub-rule (4) where offline verification can be carried out, the reporting entity shall carry out offline verification; (c) an equivalent e-document of any officially valid document, the reporting entity shall verify the digital signature as per the provisions of the Information Technology Act, 2000 (21 of 2000) and any rules issues thereunder and take a live photo as specified under Annexure 1. (d) any officially valid document or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B. The access of the Application shall be controlled by the Reporting Entities and it should be ensured that the same is not used by unauthorized persons. The Application shall be accessed only through login-id and password or Live OTP or Time OTP controlled mechanism given by Reporting Entities to its authorized officials. C. The client, for the purpose of KYC, shall visit the location of the authorized official of the Reporting Entity or vice-versa. The original Officially Valid Document (OVD) shall be in possession of the client. D. The Reporting Entity must ensure that the Live photograph of the client is taken by the authorized officer and the same photograph is embedded in the Customer Application Form (CAF). Further, the system Application of the Reporting Entity shall put a water-mark in readable form having CAF number, GPS coordinates, authorized official s name, unique employee Code (assigned by Reporting Entities) and Date (DD:MM:YYYY) and time stamp (HH:MM:SS) on the captured live photograph of the client. E. The Application of the Reporting Entities shall have the feature that only live photograph of the client is captured and no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ber registered with the Reporting Entity. Upon successful OTP validation, it shall be treated as authorized officer s signature on the declaration. The live photograph of the authorized official shall also be captured in this authorized officer s declaration. K. Subsequent to all these activities, the Application shall give information about the completion of the process and submission of activation request to activation officer of the Reporting Entity, and also generate the transaction-id/reference-id number of the process. The authorized officer shall intimate the details regarding transaction-id/reference-id number to client for future reference. L. The authorized officer of the Reporting Entity shall check and verify that:- (i) information available in the picture of document is matching with the information entered by authorized officer in CAF. (ii) live photograph of the client matches with the photo available in the document.; and (iii) all of the necessary details in CAF including mandatory field are filled properly.; M. On Successful verification, the CAF shall be digitally signed by authorized r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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